Proteomics Market - By Component (Instrument, Services), By Technique (Mass Spectrometry, Microarrays, Chromatography), By Application (Research, Diagnostics), By End use (Pharmaceutical companies, Laboratories), By Region - Global Forecast to 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationProteomics Market - By Component (Instrument, Services), By Technique (Mass Spectrometry, Microarrays, Chromatography), By Application (Research, Diagnostics), By End use (Pharmaceutical companies, Laboratories), By Region - Global Forecast to 2032
Proteomics Market Size
Proteomics Market size was valued at USD 46.68 billion in 2022 and is expected to register around 10% CAGR between 2023 and 2032. The increasing research activity being conducted in the field of personalized medicine and in the pharmaceutical industry for drug discovery and development form the primary growth factors of the market expansion. Additionally, the increasing R&D expenditure by pharmaceutical and biotechnology companies, increasing government funding, and the technological advancement among analytical tools is propelling the market growth.
On the other hand, the high cost of the instruments may hinder the growth of the market to a certain extent. Proteomics involves the use of equipment such as X-ray crystallography, mass spectrometers, and high-throughput fields to conduct protein structure, expression, and crystallization studies. These processes lead to increase in the cost per sample testing. The rising cost of instruments may also impede the adoption in developing countries, thus limiting the growth of the market. Also, the drawbacks of data management and storage during bioinformatics analysis limits their adoption, inhibiting the market demand.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Proteomics Market Size in 2022 | 46.5 Billion (USD) |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 10% |
| 2032 Value Projection | 128 Billion (USD) |
| Historical Data for | 2018 to 2032 |
| No. of Pages | 250 |
| Tables, Charts & Figures | 325 |
| Segments covered | Component, Technique, Application, End-use, and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
Proteomics Market Trends
Precision medicine, also commonly referred to as personalized medicine, is one of the most promising approaches to tackling diseases that have thus far eluded effective treatments or cures. As more diagnostic and analytical techniques are incorporated into medical practice, the demand for personalized medicine is increasing. Furthermore, the high sensitivity and accuracy of mass spectrometric analysis of proteins is suited for the incorporation of proteomics into personalized medicine, thereby supplementing the market size.
Hey, did you know that more and more people are struggling with chronic diseases like heart conditions, kidney problems, cancer, memory loss, and unusual genetic conditions? It's a real problem that's making the healthcare industry grow. For example, cancer alone costs the economy a whopping $80 billion a year! That's not just medical bills - it's lost work hours, salaries, and the cost of people taking care of loved ones. But there's a new hopeprecision medicine. It's all about understanding how our genes, lifestyle, and surroundings affect our health. With genetic testing becoming faster and cheaper, scientists can gather more information from different groups of patients. By combining this genetic info with medical records, drug info, and even how our money and community affect our health, researchers can see which treatments work best and find out what genes might be linked to success or failure. So, as more and more people get chronic diseases, the need for personalized medicine will keep growing, and that's great news for the healthcare industry.
Proteomics Market Analysis
The proteomics market is split into three main groupsinstruments, supplies, and services. Experts predict the supplies segment to grow massively, reaching around $83.65 billion by 2032. This huge chunk of the market is due to the many different reagents, kits, strips, and other supplies available. They're widely used throughout drug development, research, and diagnostics. More and more governments are putting money into proteomics and genomics. Plus, there's a lot of research happening in disease diagnosis. This is all going to boost the proteomics market in the coming years, which will in turn make the supplies segment grow even more.
Imagine you're walking through a mall and stumble upon a store that only sells different ways of studying proteins. They've got two main sectionsfancy techniques and basic ones. The fancy techniques section is like a VIP lounge. You've got mass spectrometry, where they use lasers to measure protein weights. There's also gel-based stuff, where they separate proteins by how they move through a gooey substance. And you can't forget protein microarrays, which are basically tiny protein libraries that can screen for diseases or find new drugs. This fancy section is going to be the fastest-growing part of the store because these techniques are like the hottest gadgets in town. They're all the rage in hospitals and labs because they can do so much more than the old-school methods. And here's the kickerthe companies that make these fancy tools are always coming out with new and better stuff. They're like the tech giants of the protein world, constantly pushing the boundaries of science.
Increasing initiatives in cancer research is set to aid the growth of the market in the field of proteomics
Imagine the proteomics market as a pie. It's been divided into two slicesclinical research and clinical diagnosis. In 2022, the clinical research slice was the biggest, taking up over half (54.6%) of the global pie. Proteomics is a fancy way of studying proteins. In clinical research, proteomics helps scientists understand how proteins work in the body, and to find markers that can help diagnose and treat diseases, especially cancer. The clinical diagnosis slice is also getting bigger, thanks to proteomics tools that can identify diseases and help doctors make more accurate diagnoses. And here's a bonus pointgovernments are pouring money into drug discovery, disease diagnostics, and treatments, which is also boosting the proteomics market.
Based on end use, the proteomics market has been segmented into pharmaceuticals, academic & research institutes, laboratories, and others. The pharmaceutical and biopharmaceutical companies segment held largest revenue share of the global market in 2022. Rising R&D funding from pharmaceutical & biopharmaceutical companies in the development of novel drugs is anticipated to upsurge the demand for proteomics services. Furthermore, growing elderly population across the globe is anticipated to foster the market size.
North America accounted for the largest share of the global proteomics market in 2022. This region is witnessing an increase in investments for the development of structure-based designing of drugs, increasing focus on the development of personalized medicine/therapeutics, rising demand for high-quality research tools, and increasing government funding and research initiatives for omics-based studies. In tandem to these growth factors, the presence of a large number of global players in the region supports market expansion.
Proteomics Market Share
Some of the major market players operating in the proteomics industry are
- Olink
- Biognosys AG
- Agilent Technologies, Inc
- Creative Proteomics
- Thermo Fisher Scientific
- SomaLogic Operating Co
- Promega Corporation
- Bio-Rad Laboratories
- and Proteomics GmBH to name a few
These market players are currently undertaking various strategic initiatives such as product launches and approvals to sustain the growing market competition and improve their market share in the global proteomics industry. Additionally, players are also favouring acquisitions and mergers as a part of their strategic roadmap, with an aim of providing a competitive edge by incorporating new technologies in their product and service portfolio, leading to the enhancement of the revenue for companies.
Impact of COVID-19 Pandemic
The COVID-19 pandemic has actually been a boon for the proteomics industry, giving it a much-needed boost. Companies have been pouring more money into research and development for clinical trials, showing just how big an impact the pandemic has had. The need to quickly develop treatments and vaccines for COVID-19 led to a boom in new clinical trial approaches and technologies. Contract research organizations (CROs) have been using fancy new mass spectrometers to get better results in their trials. These mass spectrometers can find unique proteins that are specific to COVID-19, which has helped researchers better understand the disease and develop new treatments. All of this has led to a big increase in revenue for the proteomics market. The advanced technologies and increased investment in clinical trials are driving the growth of this industry, which is expected to continue in the coming years.
RECENT INDUSTRY DEVELOPMENTS
- In February 2022, Agilent acquired artificial intelligence technology developed by Virtual Control. The company integrated the software, known as ACIES, into its industry-leading gas chromatography and mass spectrometry (GS/MS) platforms to improve the productivity, efficiency and accuracy of high throughput labs. This strategy will expand the company’s customer base as well as geographic outreach.
- In January 2022, Thermo Fischer Scientific acquired PeproTech, a leader in developing and manufacturing recombinant proteins. This acquisition aimed to add new capabilities to company’s existing offering.
The proteomics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments
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By Component
- Instruments
- Consumables
- Services
By Technique
- Advanced technique
- Mass spectrometry
- Gel-based technique
- Protein microarray
- Others
- Conventional technique
- ELISA
- Chromatography based technique
- Edman sequencing
- Western blotting
- Bioinformatics analysis
- Others
By Application
- Clinical diagnosis
- Clinical research
By End-use
- Pharmaceutical & biopharmaceutical companies
- Academic & research institute
- Laboratories
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Australia
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- Saudi Arabia
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